Hedge Funds Are Dumping Agios Pharmaceuticals Inc (AGIO)

Seeing as Agios Pharmaceuticals Inc (NASDAQ:AGIO) has faced falling interest from the entirety of the hedge funds we track, it’s safe to say that there exists a select few hedgies that slashed their entire stakes last quarter. Intriguingly, Ken Griffin’s Citadel Investment Group said goodbye to the biggest investment of the “upper crust” of funds tracked by Insider Monkey, comprising close to $4.3 million in stock, and Drew Cupps of Cupps Capital Management was right behind this move, as the fund dropped about $2.2 million worth of stock. These transactions are intriguing to say the least, as total hedge fund interest fell by 7 funds last quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Agios Pharmaceuticals Inc (NASDAQ:AGIO) but similarly valued. We will take a look at United Bankshares, Inc. (NASDAQ:UBSI), Black Stone Minerals LP (NYSE:BSM), Fair Isaac Corporation (NYSE:FICO), and American National Insurance Company (NASDAQ:ANAT). This group of stocks’ market values are closest to AGIO’s market value.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $103 million. The figure in the case of AGIO is just $31 million. Fair Isaac Corporation (NYSE:FICO) is the most popular stock in this table, whereas Black Stone Minerals LP (NYSE:BSM) is the least popular one with only 4 bullish hedge fund positions. Agios Pharmaceuticals Inc (NASDAQ:AGIO) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard FICO might be a better candidate to consider a long position.